After a slight uptick last year, hospital and health system mergers and acquisitions are expected to continue to rise in 2023.
Here are 32 hospital sales — either completed or still in the works — that Becker's Hospital Review has reported on in the last three months:
1-2. The Centurion Foundation, an Atlanta-based nonprofit, has inked an asset purchase agreement to acquire the CharterCare Health Partners system — which includes two Providence, R.I.-based hospitals — from Los Angeles-based Prospect Medical Holdings. The change in control application process has been submitted to the Rhode Island Department of Health and the state attorney general. Terms of the deal were not disclosed.
2. Franklin, Tenn.-based Community Health Systems has agreed to sell Plateau Medical Center in Oak Hill, W.Va. to Vandalia Health System. The sale, which is expected to close in March, would mark CHS' exit from West Virginia.
4. Pittsburgh-based UPMC has agreed a deal to acquire Sports Surgery Clinic, an independent hospital specializing in orthopedic surgery in Dublin, Ireland. Once the transaction closes, UPMC will have four hospitals in Ireland. The acquisition is subject to regulatory approval. Terms of the deal are not being disclosed.
5-7. New Orleans-based LCMC Health finalized its $150 million purchase of three hospitals from Nashville, Tenn.-based HCA Healthcare after securing approval from the Louisiana Department of Justice. The transaction brings nonprofit system's hospitals to a total of nine
8-9. El Segundo, Calif.-based Pipeline Health System has completed the sale of two Chicago-area hospitals as part of its bankruptcy proceedings to Princeton, N.J.-based entity Resilience Healthcare.
10-14. Brentwood, Tenn.-based Quorum Health is selling four Illinois hospitals to Evansville, Ind.-based Deaconess Health System and another hospital to Glendale, Calif.-based American Healthcare Systems. Quorum Health, which was spun out of Franklin, Tenn.-based Community Health Systems in 2016, includes 21 hospitals in 13 states. The deal is expected to close at the end of January.
15. West Reading, Pa.-based Tower Health sold a hospital to a consortium led by Philadelphia-based Temple University Health System.
16. Walnut Creek, Calif.-based John Muir Health entered into a definitive agreement with Dallas-based Tenet Healthcare to acquire sole ownership of San Ramon (Calif.) Regional Medical Center. The transaction is subject to review by the Federal Trade Commission and various closing conditions.
17. The U.S. Department of Veterans Affairs plans to acquire the closed Norman (Okla.) Specialty Hospital for almost $3.3 million, with plans of turning the building into a new VA hospital. The new hospital will have 52 beds — 26 for skilled nursing and 26 for substance use treatment.
18-32. Louisville, Ky.-based ScionHealth completed the acquisition of Dallas-based Cornerstone Healthcare Group, adding 15 specialty hospitals. ScionHealth, established in 2021 by Brentwood, Tenn.-based LifePoint Health and Louisville-based Kindred Healthcare, now operates 94 hospital campuses — 76 long-term acute care hospitals and 18 community hospital campuses and associated health systems.